Shares of Delek US Holdings (Ticker: DK) have climbed almost 10 percent in Friday trading, bringing them close to their all-time high set in mid-2007. Volume is on track to quadruple the stock's daily average and traders are lapping up the positive action.
There's definitely a technical aspect to the breakout — Delek had been in a pretty tight range around $25 since last summer — but it looks like the company's presentation at a Deutsche Bank conference also has given some investors fundamental reasons to bid up the stock. (See below for one slide suggesting the company's east Texas refinery will be more profitable this year.) Another potential catalyst could be the mention earlier this week of a $600 million year-end cash position; that would be almost double its Sept. 30 cash holdings and could lead to more special dividends.